Choosing To Change Your Finances

How A Foreclosure Attorney Can Help You

by Luis Hawkins

If you have recently faced some difficult times and now find yourself in the midst of a home foreclosure, you are going to want to obtain legal representation. This is important for a number of reasons. To help you better understand why retaining a foreclosure attorney is such a good idea, you will want to review the following information:

They Can Take Over All Communication With The Bank

For a lot of people, just trying to talk with representatives at the bank can be a frightful and overwhelming experience. They might have a hard time understanding the process and what they need to do to possibly stop the foreclosure. Once you have retained your attorney, they will send notification of this to your bank, instructing them to send all mailed correspondence to them and to call only them.

They Can Fix Any Mistakes

If you believe that the foreclosure status of your home loan is a mistake, then you want to make sure that it is dealt with in a timely manner. The length of the foreclosure process will vary from one state to the next, but it could happen quickly. Your attorney can go through your bank records and anything else you have that shows you have made your payments every month, and they will send copies of that to the bank's foreclosure department. There may have been a glitch in their system where instead of the money being used on the monthly payment, it was automatically applied to the principle, leaving the monthly payments unpaid.

They Can Help You Apply For A Loan Modification

If you are truly behind on your mortgage payments but can now afford monthly payments, your attorney might be able to help get you approved for a loan modification through the bank. This is where they roll all of the past due payments into the loan balance, give you a new interest rate, and allow you to start making monthly payments the month following the loan modification approval.

Now that you have more insight as to how a foreclosure attorney may be able to assist you, it is time to find one. If you do not already know of an attorney that could take your case, you will want to begin calling around so you can schedule consultations with a couple of different attorneys. Meet with each one in person in order to get a feel for how much knowledge they have regarding foreclosures in your state and find out how much their services will cost. The attorney of your choice will be able to begin to work on your case once you have paid the retainer fee in full.